Results for "broker-dealers"

Displaying 4,235 results

Sort: Date | Relevance

Author:

Wall Street is going RIA-ish

July 1, 2019

The purpose of Wall Street is to chase, create and sniff out profits. By its nature, the Street will always move to where the money goes. In the financial advice industry, money and margins are moving slowly and inexorably away from the bank-owned...

Deutsche Bank to add 300 employees to wealth management ranks

July 1, 2019

Deutsche Bank Wealth Management plans to add 300 client-facing relationship and investment managers over the next two years, the company announced Monday. The additional representatives will increase the ranks of such managers at the bank by...

Finra arbitration panel awards client $967,000 in churning, fraud, negligence case

June 28, 2019

An arbitration panel of the Financial Industry Regulatory Authority Inc. has awarded investor Frederick Blake $966,708 in total damages in a case involving Legend Securities, its CEO Anthony Fusco and three of the defunct New York firm's registered...

Envestnet Tamarac expanding into wirehouses with Merrill partnership

June 27, 2019

Envestnet Tamarac is already immensely popular among registered investment advisers, but now the technology platform is going after bigger game in the wirehouse market. Bank of America Merrill Lynch is bringing Tamarac's performance reporting...

Finra suspends broker over Woodbridge-related sales

June 27, 2019

The Financial Industry Regulatory Authority Inc. has suspended Jeffrey P. Schwebach, a former Independent Financial Group broker, for selling promissory notes without the permission of his firm and despite a firm prohibition of their sale. (More:...

Finra suffers net $68.7 million loss despite increased revenue, decreased expenses

June 27, 2019

Finra suffered a net loss of $68.7 million in 2018 despite increasing revenue and declining expenses, according to the regulator's annual report released Thursday. The primary culprit was a 2.3% decline in its investment portfolio. The Financial...

Broker-dealer pays $9.5 million to settle alternative investment claims by Native American tribe

June 26, 2019

Purshe Kaplan Sterling Investments will have to pay $9.5 million related to the sale of alternative investments to a Native American tribe in Michigan, according to a recent filing with the Securities and Exchange Commission. The independent...

LPL Financial push for employee model attempt to tap into $11 trillion market

June 25, 2019

At a time when broker-dealers are increasingly trying to come up with business models for advisers who want to act as registered investment advisers, recent moves by LPL Financial left some wondering if the firm was taking a step back in time....

GPB paid B-Ds and reps steep commissions to sell troubled private placements

June 24, 2019

Broker-dealers and their reps who sold private placements for GPB Capital were paid tens of millions of dollars in commissions, but now must face clients whose investments have dropped in value dramatically. According to a GPB document sent...

Technology can help turn client conversations toward planning in next bear market

June 24, 2019

Unless you've been living under a trading desk since the early 2000s, you've heard all about the shift in wealth management away from investments toward comprehensive financial planning.​ Investment management is commoditized. Advisers today...

SEC wins churning case against Long Island broker

June 21, 2019

Donald Fowler, a Long Island broker charged by the Securities and Exchange Commission with excessive trading of customer accounts, has lost his day in court. New York jurors have found Mr. Fowler liable on all counts of the SEC's charges, finding...

GPB Capital reports decline in value of two biggest funds

June 21, 2019

In a blow to investors, GPB Capital on Friday reported significant losses in the value of its investment funds, which are in the form of private partnerships that invest primarily in auto dealerships and waste management businesses. The two...

Finra dings Edward Jones for underreporting alleged damages in customer complaints

June 20, 2019

Over a two-year period, Edward D. Jones & Co. understated alleged damages in nearly 80 customer complaints, according to a settlement announced Wednesday with the Financial Industry Regulatory Authority Inc. From April 2016 to March 2018, Edward...

Financial firms fight over $18 trillion held by poorest of the rich

June 20, 2019

People with assets of $250,000 to $1 million are set to become a new battleground for the world's financial firms as declining margins push firms to seek out pockets of wealth further down the scale. About 76 million people with $18 trillion...

Finra bars former Merrill Lynch broker fired for accepting loans from client

June 17, 2019

The Financial Industry Regulatory Authority Inc. on Friday barred a former Merrill Lynch broker whom the firm fired in 2018 after he faced allegations of accepting loans from a client. The broker, Patrick Foley, worked in the Ontario, Calif....

Fidelity's National Financial raises more questions about GPB private placements

June 17, 2019

National Financial Services, the clearing and custody unit of Fidelity Investments, is telling broker-dealer clients they have 90 days to move private placements issued by beleaguered GPB Capital off its platform or work with the custodian as...

Galvin to propose fiduciary rule for Massachusetts brokers

June 14, 2019

Massachusetts will propose a rule that would mandate brokers and investment advisers apply a fiduciary standard of care in interactions with clients, Secretary of the Commonwealth William Galvin announced Friday afternoon. The Massachusetts...

Does Reg BI really hold brokers to a higher standard than investment advisers?

June 14, 2019

Reg BI rolled-out with bravado and fanfare on June 5. The SEC chairman spearheaded a two-hour presentation on two rules and two interpretations aimed at bringing "the legal requirements and mandated disclosures in line with reasonable investor...

Cetera latest to be hit with data breach of personal information

June 13, 2019

Cetera Financial Group is the latest in a growing number of financial advice firms to be hit with a data breach, putting information for about 2,000 clients at risk. The firm confirmed the number of clients whose information was potentially...

SEC bars broker for churning clients' accounts through firm

June 13, 2019

The Securities and Exchange Commission has barred former broker Jovannie Aquino, charging him with churning clients' accounts through his firm at the time, New York-based Windsor Street Capital. Mr. Aquino is no longer employed in the securities...

« Previous PageNext Page »

1 | 2 | 3 | 4 | 5 | 6 ... 212

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.